- ETH/BTC ratio plunged below 0.02843 after hitting a 10-month low, which means that Ethereum is underperforming Bitcoin.
- In the last few weeks, institutional investors have heavily invested money into Bitcoin ETFs, while ETH spot ETFs are still facing major outflows. This has created major divergence in the allocation of capital between the two major cryptocurrencies.
- Some experts are suggesting that this is a major structural change in the crypto market instead of a short-term change.
Despite the upward momentum in the Bitcoin (BTC) price as it soared above $80,000, Ethereum is still facing a strong consolidation zone as it is trading between a tight range at around $2,280 to $2,330.
According to the official data on TradingView, the ratio between EthereumETH-2.33% and Bitcoin has dropped below 0.02843, which shows that the ratio is hitting a multi-month low.
According to the tracker, the figure is aro...
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